A Banana Can Save Your Credit 🍌

Welcome Back, My Friend!!

Let me tell you a little something about me…

I’m 27 years old with 13 credit cards, but I only use ONE. The other 12 cards stay in a drawer.

Now you’re probably thinking, “Won’t those cards close if you don’t use them?”

You would be right BUT that’s where this magic banana comes in :)

You’re Credit Card WILL close

I hope you already know this, but credit card companies will close your account if you stop using it completely.

Now, how long until they close it? If you stop using a card, some banks will do it in as little as 12 months, and other banks might wait up to 48 months. They’re also not required to warn you before they do it, which is insane.

If that does happens, your score drops immediately. Your available credit drops, which spikes your usage AND if it was an older card, you just lost that history too. 😩

So the solution is easy, keep your cards ACTIVE.

You DO NOT have to use them every day. You just need to use them once every now and then. If you report a transaction just ONCE, that essentially resets the clock.

When Does the Banana Come In?

People over complicate the whole credit card thing. They think they HAVE TO use a credit card EVERY MONTH to keep it open.

You don’t have to use the card every month. You can literally use it once every 6-12 months, pay it off, and your done.

Once you use a credit card, it reports activity, which essentially resets the ‘card-closing’ clock.

Every 6-12 months I’ll take my ass to the grocery store, walk straight to the produce, and rip off ONE BANANA 🍌

No, not the entire bunch of bananas. Just one. 

It’s funny, but bananas are the only thing that have not been hit with inflation. One banana costs a whopping 39¢. I’ve always called this The Banana Method, but you can call it whatever the hell you want.

Now how do I keep track of all my cards?? 👇

My Card Tracking System

I keep a chart in my notes app that basically tracks the last time that I used one of my cards. It looks just like this…

Once I see a card start creeping up on 6-12 months I go run The Banana Method.

Clock resets. Card stays open. Potassium goes up.

Why You Should Never Close Your Cards

I hope you already know this, but you NEVER close a credit card.

Every card you have is adding to your available credit. More available credit = a better credit score. Closing a card doesn't just remove the card, it removes everything that card was contributing to your score.

If you have an annual fee, call the bank and downgrade to a $0 annual fee option. Bet you didn’t know you could do that! ☺️

What Would Stack Do?

Stack has ONE credit card he uses everyday while he keeps his money in the bank making a high interest rate. Meanwhile, he keeps the other 12 cards paid off and in a drawer. Once a year, he goes and buys that banana, and pays that thing off. Super simple.

Speaking of high interest… We kinda wanted to try something today. Stack has been getting tons of emails from you guys making positive changes from just reading this email, which is freakin awesome!!

We kinda wanted to find a way to give back to our subscribers.

If you have NOT opened a High Yield Savings Account yet, now’s the perfect chance to do it! If you open one with THIS LINK and email us with picture proof that you opened it. Stack and I will choose ONE subscriber and send you a $50 Amazon gift card! We’ll even give you a shoutout in our next email!

We wanna make it fun to be responsible, and who doesn’t like Amazon gift cards as a reward 😉

You can either reply to this email OR just email us @ hey@responsibleadult.life

Go be a Responsible Adult ❤️
Mikey (& Stack 🦥)